Greg Barker Supports Energy Company Profits

By Cynthia Taylor

Greg Barker the minister of Energy and Climate Change, stated that the profits energy companies make – which are widely criticized – were necessary for funding the future new power generation plants.

Mr Barkers comments were published amid further speculation that there were new price increases to be announced soon.

It is expected that British gas will increase their household energy tariffs by 8%.

Mr Barker is reported to have said to the Daily Mail, that the thought overall the UK has the lowest energy prices within Europe, and that gas was the forth lowest.

He continued that the Energy Bill and it tariffs had increased the competition and that consumers would get a better deal.

He quoted a figure of £110 billion and the amount of money that is needed to build the new plant to ensure that the UK us able to keep the lights on for the future.